What does having the right of abode in the UK actually allow me to do?

Right of abode is the strongest form of permission to be in the UK short of holding a British passport yourself. There is no limit on how long you can stay, and you are free to work, study and come and go without immigration conditions.

It is held automatically by all British citizens, and by certain Commonwealth citizens who meet specific historical conditions. Because it removes immigration controls entirely, it is more secure than indefinite leave to remain, which can lapse after long absences.